Chinese media is reported saying that China has won the contract to print Indian currency. Not just Indian, many other countries gave handed-over the contract to China for the printing of their currency notes, said China Banknote Printing and Minting Corporation (CBPMC) President Liu Guisheng. According to the South China Morning Post China has started to print foreign notes recently only after the launch of its Belt and Road Initiatives in 2013.
Whereas, the Reserve Bank of India officials denied clearly saying that the reports are all fake and no Indian currency is being printed anywhere outside India.
According to reports, after the Belt and road project in 2013, the CBPMC got the contracts to print currency notes of countries including Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil and Poland. Seeing the huge demand, China has increased the production across the country to meet the stipulation.
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Reacting to this, Shashi Tharoor calls it disturbing a disturbance in national security. He tweets…
On the other hand, apart from RBI’s denial, no other government authorities have reacted to the news so far. This brings in mind the highly recorded fake notes in Indian currency got a leap in 2016 post-demonetisation. Over 480 per cent jump in suspicious transactions were recorded after the note ban.